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PC Jeweller lists at premium to offer price

PC Jeweller lists at premium to offer price
Shares of P C Jeweller, which came out with a public issue earlier in December got listed on the bourses today. The stock was last trading at Rs 140.35, higher by Rs 5 over its offer price of Rs 135.

PC Jeweller it may be recalled raised more than Rs 600 crore through an IPO, out of which nearly Rs 91 crore was raised by allocating 67,16,250 equity shares to 10 anchor investors. The company will use the proceeds raised for setting up additional 20 showrooms by FY14 with an outlay of Rs 517 crore.

Opinion is divided on whether one should buy the stock at the current levels. Analysts argue that the stock is cheaper when compared to peers like Tara Jewels and Tribhoovandas Bhimji Zaveri and hence makes an attractive buy.

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